CIBC Forecasts Strong Price Appreciation for Laurentian Bank of Canada (TSE:LB) Stock

Laurentian Bank of Canada (TSE:LB) had its target price upped by CIBC from C$28.00 to C$31.00 in a report released on Tuesday morning,BayStreet.CA reports.

A number of other analysts have also weighed in on the stock. Desjardins upped their target price on shares of Laurentian Bank of Canada from C$25.00 to C$26.00 and gave the stock a “sell” rating in a report on Tuesday, August 6th. Raymond James increased their price objective on Laurentian Bank of Canada from C$26.00 to C$27.00 in a research report on Wednesday, September 4th. Scotiabank lifted their price objective on Laurentian Bank of Canada from C$26.00 to C$30.00 in a research note on Monday, November 25th. BMO Capital Markets raised their price target on Laurentian Bank of Canada from C$27.00 to C$28.00 in a report on Monday, November 18th. Finally, Cibc World Mkts upgraded shares of Laurentian Bank of Canada to a “hold” rating in a research report on Wednesday, August 21st. Three analysts have rated the stock with a sell rating and seven have issued a hold rating to the stock. Based on data from MarketBeat, Laurentian Bank of Canada presently has an average rating of “Hold” and an average price target of C$27.10.

Laurentian Bank of Canada Trading Up 0.5 %

Shares of TSE LB opened at C$29.65 on Tuesday. The firm has a market cap of C$1.30 billion, a price-to-earnings ratio of -47.84, a price-to-earnings-growth ratio of 0.76 and a beta of 1.25. The stock has a fifty day simple moving average of C$27.21 and a two-hundred day simple moving average of C$26.65. Laurentian Bank of Canada has a 1-year low of C$24.45 and a 1-year high of C$29.75.

Laurentian Bank of Canada (TSE:LB) last announced its quarterly earnings data on Friday, August 30th. The company reported C$0.88 earnings per share for the quarter, topping the consensus estimate of C$0.85 by C$0.03. The company had revenue of C$256.50 million during the quarter, compared to analyst estimates of C$257.90 million. Laurentian Bank of Canada had a negative return on equity of 0.55% and a negative net margin of 1.64%. Analysts forecast that Laurentian Bank of Canada will post 3.8414986 EPS for the current year.

Laurentian Bank of Canada Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Friday, November 1st were paid a dividend of $0.47 per share. The ex-dividend date was Tuesday, October 1st. This represents a $1.88 dividend on an annualized basis and a dividend yield of 6.34%. Laurentian Bank of Canada’s dividend payout ratio (DPR) is currently -303.23%.

Laurentian Bank of Canada Company Profile

Laurentian Bank of Canada, together with its subsidiaries, provides various financial services to personal, business, and institutional customers in Canada and the United States. It operates through three segments: Personal Banking, Commercial Banking, and Capital Markets. The Personal Banking segment offers financial services, such as financial advisory services to financial intermediaries; and operates digital direct-to-customer platform to retail clients.